Allentown, Pa. – PPL Electric Utilities has reached an agreement that, if approved by the Federal Energy Regulatory Commission, will lower the company’s transmission rates and lower customer bills.
The agreement was reached on August 20 with a group of industrial and municipal customers to reset the basic return on equity for PPL Electric’s transmission formula rate from 11.18% to 9.9%.
The change is expected to save typical residential customers approximately $ 1.54 and typical commercial customers $ 2.15 on their monthly bill over a 12-month period.
Savings and refunds are expected to begin on December 1, 2021.
According to PPL, transport tariffs are part of the supply costs shown on customer invoices, and savings in transport tariffs are passed on to customers through PPL’s Price to Compare service.
Individual suppliers are not required to pass on savings; to see if transmission rate changes will affect your electricity bill, contact your supplier.
“We are committed to keeping the lights on for customers at a reasonable cost,” said Steph Raymond, president of PPL Electric.
“Thanks to our forward-thinking investments, we have one of the most reliable networks, and our customers continue to pay below the mid-Atlantic region average rate,” added Raymond.
